Starting an AG in Switzerland: What It Takes

The AG (Aktiengesellschaft) is the traditional Swiss stock corporation. It suits businesses planning to scale, raise capital, or present a more established face.

The requirements

An AG needs CHF 100,000 in share capital, of which CHF 50,000 must be paid in at formation, plus founders, articles, and a registered office.

The capital is divided into shares, which is what makes ownership easy to transfer. At least one shareholder and the required board structure must be in place.

An AG needs a board of directors and an auditor in most cases, adding governance formalities that a GmbH does not have to the same degree.

Like the GmbH, the AG must be notarised and entered in the commercial register before it legally exists.

• CHF 100,000 share capital (CHF 50,000 paid in).
• Founders and articles of association.
• Board of directors required.
• Registered Swiss office.

Why choose an AG

The AG offers limited liability, easier transfer of ownership through shares, and a structure well suited to raising capital or bringing in investors.

Shares can change hands without amending the company, which makes the AG the natural choice for businesses that will bring in investors or partners.

The AG carries prestige and is the structure investors expect. It signals a more established, scalable operation.

It also allows anonymous shareholding in bearer form in limited cases, though registered shares are now the norm.

• Limited liability.
• Shares are easily transferable.
• Preferred for investors and scale.
• Stronger investor-facing structure.

Comparing AG and GmbH

The GmbH needs CHF 20,000 capital; the AG needs CHF 100,000, of which half must be paid in. The capital gap is the biggest practical difference.

The AG has more formal governance: a board of directors, shareholder meetings and often an auditor. The GmbH is lighter to operate.

Transferring ownership is simpler in an AG, since shares move easily, while a GmbH transfer requires notarisation.

For most small businesses, the GmbH delivers the same limited liability with less capital and fewer formalities.

• GmbH: CHF 20,000 vs AG: CHF 100,000.
• AG has heavier governance.
• AG shares transfer more easily.
• GmbH is lighter for most SMEs.

Making the choice

Choose the AG when you specifically need its features: easy share transfer, investor readiness, or a more established corporate face.

Choose the GmbH when you want limited liability at a fraction of the capital and with fewer ongoing formalities.

The decision can be revisited later. A GmbH can be converted into an AG as the business grows, so you are not locked in forever.